Accounting and Federal Compliance Analyst

Accounting and Federal Compliance Analyst

The Massachusetts Technology Collaborative (MTC) is a public economic development agency charged with strengthening the state’s innovation economy and fostering a more favorable environment for the formation, retention and expansion of technology-related enterprises in Massachusetts. Through its major divisions—the Innovation Institute, the Massachusetts eHealth Institute, and the Massachusetts Broadband Institute—MTC is stimulating economic activity in every corner of the Commonwealth. The agency brings together leaders from industry, government, and higher education to advance technology-based solutions that strengthen regional economies, improve the healthcare system, expand high-speed Internet access and stimulate life sciences cluster growth.

The Accounting and Federal Compliance Analyst will apply strong accounting and business acumen and knowledge of federal compliance requirements to implement and maintain accounting and business processes, reporting procedures, and financial tracking and filing methodologies to insure compliance with all federal, state and other applicable regulations. The Accounting and Federal Compliance Analyst will conduct financial analyses on budgets, cash flows, operating results, and business operating plans and will lead the implementation and on-going monitoring of policies, procedures, documentation and internal controls necessary to maintain compliance with all applicable federal guidelines, federal grant policy terms and conditions, and other applicable regulations. The Accounting and Federal Compliance Analyst will work closely with the finance team on in all fiscal and accounting areas as well as with the legal team and the programmatic divisions of MTC. This position will actively participate in the analysis of budget, financial and operational results and in the preparation for all audits of the Corporation. This position is based in MTC’s Westborough headquarters.

RESPONSIBILITIES:

Under the direction of the Controller, the Accounting and Federal Compliance Analyst will perform the following:

1. • Ensure a comprehensive understanding of all applicable federal requirements and guidelines applicable to MTC, including but not limited to OMB Circulars A-87, A-133 and A-102, ARRA, and 15 CFR Part 24 and 45 CFR Part 92
   • Review, understand, and monitor awarded federal grants, contracts and cooperative agreements, including proposals, budgets, funding announcements, special award terms and conditions, and any related amendments
   • Process the drawdown of funds for the federal awards through the applicable payments systems and in accordance with applicable funding restrictions and insure appropriate filing of all supporting documentation
   • Coordinate the preparation of federal reporting data elements from finance and program staff; submit all reports via appropriate reporting procedures and systems for each agreement in an accurate and timely manner
   • Recommend improvements and assist with implementation of such for reporting formats, filing systems, and grant tracking mechanisms for expenditures of federal funds and associated program income and matching funds
   • Develop and improve financial structure and reporting tools for operations and program management
   • Monitor monthly financial results and compare with fiscal and federal program budgets as well as business objectives
   • Lead efforts to further implement a sub recipient monitoring compliance program to meet all federal requirements and perform on-going monitoring of compliance
   • Communicate monthly fiscal results and variance to budget analysis to program managers for federally funded activities and address any variance in accordance with federal requirements
   • Lead the establishment of standardized practices, formats and templates for all federal activities beginning at review of funding announcements, proposal and budget preparation, and post award activities.
   • Lead the effort for tracking and recording in-kind matching and monitoring all other federal matching requirements
   • Perform training for financial and programmatic staff on federal compliance requirements, and new or revised policies and procedures implemented to insure compliance
   • Engage with all the corporate programs acting as the liaison to ensure federal compliance requirements are achieved in an accurate and timely fashion
   • Serve as the financial representative on internal working groups and task forces; perform fiscal oversight and guidance when requested
   • Review federal expenditures on a periodic basis to insure allowability and compliance with all federal regulations, grant award terms, and approved budgets
   • In cooperation with the program divisions, develop federal proposal budgets, prepare budget revisions and coordinate with federal grants management office for all federal budget requirements
   • Create and update spreadsheets, graphs, and other financial documentation in support of the organization’s financial statements
   • Participate in the improvements of the internal and external grant auditing practices as it relates to insuring compliance with federal funding; ensure payments and deliverables are in accordance with contractual obligations and federal requirements as well as generally accepted accounting practices
   • Participate in general accounting cycle functions, management accounting, project-based accounting, grant management to ensure adherence to and compliance with federal guidelines and generally accepted accounting practices
   • Participate in the coordination of materials and documentation for the Corporate Annual Audits, A-133, and State Audits
   • Participate in and coordinate materials for the Budget and Operations Committee, MTC Board of Directors and other Boards and Councils for the programmatic divisions of MTC as needed
   • Consult and coordinate with all members of the accounting and finance staff to maintain accurate, timely and highly effective fiscal data including journal entries, cash requirements, financial statements, account analyses, and all other financial requirements as it related to federal grants
   • Manage special projects as assigned including preparation of ad hoc analysis, detailed information requests as well as other fiscal projects and/or tasks
   • Perform additional tasks as may be assigned from time to time by the Controller, Chief Financial and Administrative Officer, and Chief Executive Officer

1. • 1. Education

• • Bachelors degree from an accredited college or university in Accounting required

1. • 2. Experience

• • Minimum 5 years’ experience with general accounting, federal compliance, automated financial systems, budget management and spreadsheet modeling

1. • Knowledge, Skills and Abilities

• • Excellent interpersonal, communication and presentation skills
  • Excellent analytical, mathematical and quantitative skills
  • Excellent PC skills and knowledge of PC applications, e.g., Excel, Word, databases, E-mail, Internet and payroll and accounting software applications
  • Demonstrated ability to lead, motivate and evaluate staff and the accounting function in general
  • Demonstrated knowledge of or ability to quickly grasp Governmental Accounting Standards Board (GASB) accounting standards, federal regulations regarding grants and compliance, and Massachusetts statutes relative to accounting for public instrumentalities
  • Demonstrated ability to develop and analyze budget variances
  • Knowledge of internal auditing practices
  • Demonstrated ability to define and document business problems and develop solutions
  • Demonstrated ability to manage multiple priorities effectively